Risks
What can go wrong, what the vault does about it, and what it can't prevent.
NullPoint removes the bet on price. It doesn't remove risk. Read this before putting in money you care about.
| Risk | What happens | What the vault does | What it can't prevent |
|---|---|---|---|
| Funding turns negative | Shorts pay instead of earning | Switches to a coin that pays, or parks in USDC | Weeks with no yield, and the 0.4% cost of switching |
| A sharp rally | The coin rises fast and the short loses margin | Watches the account every run; below 3× the maintenance margin it adds collateral or shrinks the position | A gap big enough, fast enough, can still liquidate the short. At 2x the coin would need to rise roughly 45 to 50% |
| Hyperliquid fails | The short and its collateral live there | Nothing | The vault loses what's on Hyperliquid (about a third of it) |
| A bridge fails | BTC and ETH in NEAR Intents are bridged tokens (nbtc.bridge.near, eth.bridge.near) | Nothing | If a bridge breaks, the coin it backs can lose its value |
| The agent misbehaves | A stolen agent key can trade | It can't withdraw, send, or sign for the vault; the contract checks every swap | It can trade the short badly. Limits cap how much, they don't remove it |
| The AI decides badly | It picks a bad coin at a bad time | Every answer passes fixed limits: three coins, 2x, two switches a day, one-week payback | Bad calls inside the limits |
| The agent stops | No reports, rebalancing or payouts | Positions stay hedged where they are; signed payouts can be finished from your wallet | Unsigned withdrawals wait until it's back |
| Wrong reported value | The agent reports the Hyperliquid side | The contract checks each report against what it expects and pauses on a larger gap | A slow drift of up to 2% per report would pass; it would show in the share-price history |
| Unaudited code | This is a hackathon build | Mainnet is capped at $100 | Bugs nobody has found yet |
| The owner | Can pause, change limits, and in this build upgrade the contract | No method pays the owner; fees are capped in the contract | An upgrade could change the rules |
A word on testnet
Testnet uses test USDC and a stand-in for NEAR Intents and 1Click, because neither has a testnet. Nothing there is real money. Funding on Hyperliquid testnet is also unrealistic (hundreds of percent a year), so testnet numbers say nothing about what mainnet earns.
Your exit
You can ask for your USDC back at any time. There's no lockup. In the worst case (the agent down for good) a payout that was already signed can be submitted by you, and the owner can pause the vault and replace the agent.